My husband and I are looking to buy in the next few months. I have the most income and stable job history (3+ years) and my scores are 669 and 645 - I don't know the 3rd one yet. They should raise even more by the time we are in the pre-approval/app/closing stage in the fall.
My husband just got his SSN and PR card in September/October of 2008. He spent the end of last year and the beginning of this year looking for work and started working part-time in January. He just started a full-time job a few weeks ago. His income is alot smaller than mine but would increase our income from around 45k to around 65k - dramatically increasing the type of home we can get. We can prove 2+ years history of paying rent for almost the amount our monthly payment would be - even back when I was only making around 20k a year.
Do they ever waive the 2 year job history requirement? I know they will waive it for someone who was in school so wouldn't someone who is technically new to the country be given a chance to explain and possibly still be able to be included on the loan? His credit scores are 706 and 723 so pretty impressive and since my job is so stable I am wondering if those can be factors in the decision..
I am waiting to hear back from the mortgage broker that was referred to me so I can ask him these things but he has been hard to get a hold of and I am impatient to know any information. I have searched for several hours but can't find anything. Any input is appreciated even if it is just a guess or opinion...
Thanks guys!
Message Edited by Tasksgirl on 05-27-2009 06:03 PM
Message Edited by Tasksgirl on 05-27-2009 06:04 PM
